FDA’s Approval of First Interchangeable Biosimilar Product Paves Way for Lower Health Care Costs for Patients
WASHINGTON, D.C. – Meaghan Rose Smith, Executive Director of the Biosimilars Forum, released the following statement after the Food & Drug Administration (FDA) approved the first interchangeable biosimilar product:
“The Biosimilars Forum applauds the FDA’s decision to approve this first interchangeable biosimilar. The FDA’s action will help to broaden access to patients at the pharmacy counter and provide beneficiaries living with diabetes – including those with Medicare Part D coverage – with additional safe and effective treatments at lower costs. According to recent research by IQVIA, increased use of biosimilars in the U.S. could save $100 billion over the next five years. The Forum will continue to work with the FDA and Congress to serve as a voice for patients and advocate for commonsense policy solutions in Washington that give more patients access to lifesaving, lower-cost biosimilar drugs.”
For more information on the Biosimilars Forum, visit http://www.biosimilarsforum.org.